Climate negotiators met at their intersessional climate talks, known as SB58 (the 58th meeting of the Subsidiary Bodies), at Bonn, Germany, between 5 – 15 June. The deliberations were supposed to lay the foundations for progress to be made at COP28 in Dubai between 29 November – 12 December. Yet, they also highlighted the many gaps that still need to be bridged. Parties and groupings stuck mostly to their familiar negotiating positions across most issues at Bonn, though faint contours of progress were made on core issues of (i) loss & damage; (ii) Article 6; and (iii) the just transition.
Ehsan Khoman, Head of Commodities, ESG and Emerging Markets Research (EMEA), discusses MUFG’s latest ESG report that examines the current state of affairs of climate negotiations ahead of COP28 in November (see here for the full report).